PM Aegean Marine Petroleum Network Inc. (ANW) reported second-quarter net income of $7.05 million or $0.17 per share, compared to $2.10 million or $0.07 per share in the year-ago quarter. Total revenues grew 39.8% to $282.6 million from $202.2 million in the same quarter last year. Sales of marine petroleum products increased 40.6% to $282.2 million.
The company said its results were driven by a 46% jump in the gross spread on marine petroleum products to $20.0 million. Volume of marine fuel sold increased 43.2% to 795,282 metric tons.
The company said its results were driven by a 46% jump in the gross spread on marine petroleum products to $20.0 million. Volume of marine fuel sold increased 43.2% to 795,282 metric tons.